SEC Chair Paul Atkins predicts US financial markets will adopt on-chain infrastructure within two years, focusing on tokenized entitlements and on-chain settlement layers. Major asset classes like equities, Treasuries, and particularly the $12.6 trillion daily repo market offer significant opportunities for tokenization to improve settlement and collateral mobility. The initial adoption will prioritize middle-layer solutions integrating blockchain with existing infrastructure rather than full DeFi market transformation.

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